Soybeans are showing 1 to 2 cent gains on Friday morning. Futures settled in on Thursday with contracts steady to 6 ¾ cents higher at the close, led by the 2026 contracts. Open interest suggested some shorts covering, down 12,157 contracts. The cmdtyView national average Cash Bean price was up 6 ¾ cents at $10.93 1/2. Soymeal futures were $7.20 to $10.80 higher on the day in the front months, with Soy Oil futures 1 to 20 points lower.
The weekly Export Sales report from this morning showed just 298,208 MT of old crop bean sales in the week of March 12. That was a MY low and 15.42% below the same week last year. China was the largest buyer of 79,900 MT, as 66,000 MT was switched from unknown destinations. Mexico purchased 74,000 MT, with 30,400 MT sold to unknown destinations.
